Genome Editing Market is projected to Grow Massively in Near Future with Profiling Eminent Players - Thermo Fisher Scientific, Merck KGaA, GenScript and more
The global Genome Editing market is expected to reach USD 10.1 billion by 2026, according to a new report by Reports and Data. Genome editing refers to a genetic engineering method used for insertion, deletion, or modification in the genome of any organism. Genome editing has come up as promising tool with wide scale application of established genetic engineering technologies such as TALEN and introduction of new methods such as CRISPR technology.
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The market is driven by the increasing incidence of genetic diseases, favorable funding scenario for research & development in the field of genetic engineering, technological advancements in genetic engineering such as developments in CRISPR technology, increasing focus of food industry on genetically modified organisms, and rising awareness about efficacy as well applications of genetic engineering methods. For instance, globally over 175 million hectares of land is used for GM crops production.
Companies considered and profiled in this market study
Thermo Fisher Scientific Inc., Merck KGaA, GenScript, Horizon Discovery Group Plc, Integrated DNA Technologies, Inc, Lonza, New England Biolabs and Sangamo Therapeutics, Inc.
For the purpose of this report, Reports and Data has segmented the Genetic Editing market on the basis of type, application, end user and region:
Type Outlook (Revenue, USD Million, 2016 - 2026)
Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)
Transcription Activator-Like Effector Nucleases (TALEN)
Zinc Finger Nucleases (ZFN)
Application Outlook (Revenue, USD Million, 2016 - 2026)
Animal Genetic Engineering
Plant Genetic Engineering
Cell Line Engineering
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End User Outlook (Revenue, USD Million, 2016 - 2026)
Academic Institutes & Research Center
Contract Research Organizations
Regional Outlook (Revenue, USD Million, 2016 - 2026)
Middle East & Africa
Further key findings from the report suggest
1. CRISPR market is rising at a high growth rate of 30.9 percent in Asia Pacific followed by North America and Europe. Rising application of genetic engineering for therapeutics will drive the demand for the market during forecast period across all regions.
2. The valuation for TALEN market was USD 1.79 billion in 2018 and is expected to grow to USD 2.01 billion by 2026. Benefits associated with TALEN high degrees of precision and control, is the key factor supporting the wide-scale adoption of the technology and consequently contributing to the market growth.
3. Asia Pacific is expected to witness a CAGR of 15.8 percent in the forecast period. Emerging markets such China and Japan are likely to witness high growth
4. Regional regulatory approval is another key regulatory factor for adoption and growth of genetic editing in the region.
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The report emphasizes the following key questions
Q.1. What are the most lucrative and promising growth prospects for the market?
Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?
Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes?
Q.4. Which factors are impacting the future of the market and what are the driving factors?
Q.5. What are the hurdles and challenges curtailing the industry's growth in the forecast period?
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